Just put that money in an inaccessible investment instantly, SK you don’t have it to spend in the first place. What that investment is, is your moral and fiscal choice.
Could be stocks, although yknow.
A friend of mine invests into stock of resellers. Maybe an SME, they are tax beneficial. Idk if those are a thing where you are.
Could even be as simple as a savings account. We’re all used to those paying a negligible amount of interest but there are a few high yield ones that may be worth it.
I started keeping more of my emergency fund in savings once I found a high yield choice, although it just dropped to 4.1% so I don’t know. These may have more constraints when you’re just starting though ……
But I really wanted to stress the above point of automatic savings. It’s really helped me to not spend, when I automatically put a little aside so it’s not even in my checking account to spend. Forced savings.
Just put that money in an inaccessible investment instantly, SK you don’t have it to spend in the first place. What that investment is, is your moral and fiscal choice.
Could be stocks, although yknow.
A friend of mine invests into stock of resellers. Maybe an SME, they are tax beneficial. Idk if those are a thing where you are.
Could even be as simple as a savings account. We’re all used to those paying a negligible amount of interest but there are a few high yield ones that may be worth it.
I started keeping more of my emergency fund in savings once I found a high yield choice, although it just dropped to 4.1% so I don’t know. These may have more constraints when you’re just starting though ……
But I really wanted to stress the above point of automatic savings. It’s really helped me to not spend, when I automatically put a little aside so it’s not even in my checking account to spend. Forced savings.
exactly, but op didn’t want to open a new bank account which is why I didn’t suggest it.